IDEAS home Printed from https://ideas.repec.org/a/eee/proeco/v186y2017icp81-88.html
   My bibliography  Save this article

Bi-objective project portfolio selection in Lean Six Sigma

Author

Listed:
  • Kalashnikov, Vyacheslav
  • Benita, Francisco
  • López-Ramos, Francisco
  • Hernández-Luna, Alberto

Abstract

There are many aspects of a successful implementation of Lean Six Sigma techniques. Typically, decision-makers have to consider multiple conflicting objectives, and in many cases, they lack a formal approach for selecting projects. To meet the organization's requirements, some studies have proposed the use of multi-objective combinatorial optimization techniques. However, such formulations are notoriously difficult and complex to solve in reasonable computational time. In contrast to previous works, the present study proposes a novel integrated methodology to formulate and solve the Lean Six Sigma project portfolio as a 0–1 Bi-objective Quadratic Programming Problem. The model considers interdependent project effects (quadratic objectives) and is subject to resource limitations and constraints regarding mutually exclusive projects and mandatory projects. The approach permits tackling the problem as a Mixed-Integer Quadratically-Constrained Programming Problem and thus to use the branch-and-bound algorithms implemented by the standard optimization solvers such as CPLEX or Gurobi. Numerical examples are provided to verify the efficiency and added value of the methodology.

Suggested Citation

  • Kalashnikov, Vyacheslav & Benita, Francisco & López-Ramos, Francisco & Hernández-Luna, Alberto, 2017. "Bi-objective project portfolio selection in Lean Six Sigma," International Journal of Production Economics, Elsevier, vol. 186(C), pages 81-88.
    • Handle: RePEc:eee:proeco:v:186:y:2017:i:c:p:81-88
    DOI: 10.1016/j.ijpe.2017.01.015
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0925527317300154
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.ijpe.2017.01.015?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Muthuswamy Shanmugaraja & M. Nataraj & Nallasamy Gunasekaran, 2012. "Six Sigma project selection via quality function deployment," International Journal of Productivity and Quality Management, Inderscience Enterprises Ltd, vol. 10(1), pages 85-111.
    2. Kumar, U. Dinesh & Nowicki, David & Ramirez-Marquez, Jose Emmanuel & Verma, Dinesh, 2008. "On the optimal selection of process alternatives in a Six Sigma implementation," International Journal of Production Economics, Elsevier, vol. 111(2), pages 456-467, February.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Sunder M, Vijaya & Ganesh, L.S., 2021. "Lean additives in a service factory: A design science approach," Technovation, Elsevier, vol. 104(C).
    2. Aqlan, Faisal & Al-Fandi, Lawrence, 2018. "Prioritizing process improvement initiatives in manufacturing environments," International Journal of Production Economics, Elsevier, vol. 196(C), pages 261-268.
    3. Masoud Rahiminezhad Galankashi & Farimah Mokhatab Rafiei & Maryam Ghezelbash, 2020. "Portfolio selection: a fuzzy-ANP approach," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 6(1), pages 1-34, December.
    4. Ran Etgar & Yuval Cohen, 2022. "Roadmap Optimization: Multi-Annual Project Portfolio Selection Method," Mathematics, MDPI, vol. 10(9), pages 1-23, May.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Zu, Xingxing & Robbins, Tina L. & Fredendall, Lawrence D., 2010. "Mapping the critical links between organizational culture and TQM/Six Sigma practices," International Journal of Production Economics, Elsevier, vol. 123(1), pages 86-106, January.
    2. Kai Sandner & Sebastian Sieber & Marleen Tellermann & Frank Walthes, 2020. "A Lean Six Sigma framework for the insurance industry: insights and lessons learned from a case study," Journal of Business Economics, Springer, vol. 90(5), pages 845-878, June.
    3. Mustapha Nourelfath & Tariq Aldowaisan & Jawad Hassan, 2016. "Evaluating Six Sigma failure rate for inverse Gaussian cycle times," International Journal of Production Research, Taylor & Francis Journals, vol. 54(20), pages 6092-6101, October.
    4. Glover, Wiljeana J. & Farris, Jennifer A. & Van Aken, Eileen M. & Doolen, Toni L., 2011. "Critical success factors for the sustainability of Kaizen event human resource outcomes: An empirical study," International Journal of Production Economics, Elsevier, vol. 132(2), pages 197-213, August.
    5. Erceg Aleksandar & Dotlić Predrag & Mikuš Monika, 2018. "The 20 Keys Methodology – Continuous Improvement for Organizational Efficiency," Studia Universitatis Babeș-Bolyai Oeconomica, Sciendo, vol. 63(1), pages 20-36, April.
    6. Mahmoud Dehghan Nayeri & Malihe Rostami, 2016. "Effectiveness of six sigma methodology through BSC in banking industry," Journal of Asian Business Strategy, Asian Economic and Social Society, vol. 6(1), pages 13-21, January.
    7. Anshu Gupta & Pallavi Sharma & Akansha Jain & Hongbo Xue & S. C. Malik & P. C. Jha, 2023. "An integrated DEMATEL Six Sigma hybrid framework for manufacturing process improvement," Annals of Operations Research, Springer, vol. 322(2), pages 713-753, March.
    8. Fakhraddin Maroofi & Mohammad Nazaripour & Shahoo Maaznezhad, 2012. "Links Between Organizational Culture and Six Sigma Practices," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 2(4), pages 83-101, October.
    9. Jin, Tongdan & Janamanchi, Balaji & Feng, Qianmei, 2011. "Reliability deployment in distributed manufacturing chains via closed-loop Six Sigma methodology," International Journal of Production Economics, Elsevier, vol. 130(1), pages 96-103, March.
    10. Christian Hofmann & Erik Hofmann & Thomas Pfeiffer, 2008. "Kontrollrechte und Anreize in Supply Chains," Schmalenbach Journal of Business Research, Springer, vol. 60(59), pages 1-29, January.
    11. MAG, Andreea-Dora, 2011. "Photographing the relationship between corporate culture and implementation of quality practices," Romanian Distribution Committee Magazine, Romanian Distribution Committee, vol. 2(1), pages 64-70, March.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:proeco:v:186:y:2017:i:c:p:81-88. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/ijpe .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.